Indochina Capital to spend US$25m on buying ITC-coded shares

Saturday, April 12, 2008
Indochina Capital to spend US$25m on buying ITC-coded shares
Indochina Capital Group, ICC's securities investment fund, recently signed an agreement with ITC International Transportation Joint Stock Co (coded ITC), the Viet Nam's biggest transportation firm, to buy ITC-coded shares worth US$25 million.
According to Indochina Capital, the agreement marked the first participation and contribution of Indochina Capital in field of sea transportation in Viet Nam. At the same time, the agreement also showed the Indochina Capital's orientation to invest in private shares.
Being the strategic investor, Indochina Capital pledged to provide long-term capital and support ITC in key business activities.
ITC with the headquarters in HCM City specialises in dry goods transportation and ranks the fourth position amongst domestic sea transportation firms.